JAKARTA - PT BPD Jawa Timur Tbk (BJTM) has allocated Rp 1.20 billion to conduct a stock buyback from May 1 to July 31, 2019. The buyback option was taken in line with the Long Term Incentive (LTI) 2018/2019 programme for remunerated variable stocks with no material impact.
Based on the company's information disclosure, the remuneration consists of cash and shares issued by the company. Prior to the transaction, the company had assets worth Rp 62.68 trillion, current year profit of Rp 1.26 trillion, equity of Rp 8.42 trillion, ROA of Rp 296 trillion, and ROE of Rp 17.74 trillion as of December 2018. After the buyback, the company has Rp 62.68 trillion worth of assets or Rp 1.20 billion worth of shares.
BJTM also announced the results of a private placement from a Managemen Employee Stock Options (MESOP) scheme I 2019, which consist of phase I with 48,500 shares at Rp 409 per share and phase II with 15,589,500 shares at Rp 599 per share. The total proceeds obtained from the private placement amount to Rp 9.33 billion. (LK/MS)